Kindiki hails President Ruto for stabilising economy as 5,500 affordable housing interns onboarded

Deputy President Kithure Kindiki on Friday praised President William Ruto’s economic stewardship, saying the administration has successfully stabilised Kenya’s macroeconomic fundamentals and is now shifting focus to job creation and income growth.

Speaking at State House, Nairobi, during an engagement with graduate interns onboarded under the Affordable Housing Programme, Kindiki said the first two years of the Kenya Kwanza administration were deliberately spent fixing the economic foundation.

“When you assumed office in 2022, Mr President, you made it clear that we needed to first stabilize the macroeconomic fundamentals of our country which make the foundation upon which our economy is built,” Prof. Kindiki said.

“For the first two years of your administration, you worked very hard and we now have a stable macroeconomic environment.”

He cited easing inflation and interest rates, a relatively stable currency and record foreign exchange reserves as indicators of that progress.

“The interest rates and inflation have come down, the currency has been stable for a while and we now have the highest ever foreign exchange reserves in the history of our country,” he said.

According to the Deputy President, the government is now entering what he described as a new phase focused on translating stability into tangible economic gains for households.

“In the third and fourth year, Mr President you are now building on macroeconomic stability to create macro-economic progress. This includes job creation and expanding the economy to provide job opportunities and increasing household incomes,” he said, adding that the country was “right on course to economic transformation under your leadership.”

Prof. Kindiki linked the administration’s economic agenda to the Bottom-Up Economic Transformation Agenda (BETA), saying every job and income opportunity brings the country closer to its long-term goals.

“Every opportunity provided to a Kenyan, either a job or an income opportunity, helps us move closer to the realization of the Bottom-Up Economic Transformation Agenda and the fulfilment of the vision of getting Kenya to the First World economic status,” he said.

“The 5, 500 interns under the Affordable Housing Program are beneficiaries of the many initiatives this administration is creating for young people in terms of jobs and income opportunities. Today, I am proud member of this government as we celebrate this milestone,” Kindiki said.

Describing affordable housing as a flagship project of the administration, the Deputy President said its impact was beginning to be felt across the country.

“This housing program, which is a flagship project of this administration, is now picking up and the impact is being felt across the country. So far, so good,” he said.

However, he cautioned that growth in the sector must be matched with strict professional standards and accountability.

“We must continue firming up on the professional standards and the quality control systems to make sure the houses are safe in the long-term,” the DP said.

He called for tougher consequence management for professionals whose decisions compromise safety.

“To safeguard safety in this sector, we must introduce and implement consequence management for professionals who under their watch make injurious decisions. There must be consequences for decisions made by all professionals and agencies in the housing sector and other sectors,” he said.

Kindiki concluded by affirming his support for the President, telling him: “Mr President, you have done us proud, you continue to shape the vision of a better, prosperous and inclusive Kenya. We will continue supporting you as you make our country better.”